The Startup Velocity Question - What CANNOT be Fixed?
Sramana Mitra
Founder and CEO of One Million by the One Million (1Mby1M) Global Virtual Accelerator
I publish this series to discuss the nuances of bootstrapped entrepreneurship. Please subscribe to my Best of Bootstrapping series to never miss an article and learn what to expect from 1Mby1M.
Within the runway of a venture-funded startup, it is excruciatingly difficult to fix core technology problems.?
Engineering problems can be fixed, technology problems are of a different league of intractability.
It is also very difficult to fix market timing issues. Runway tends to run out.?
Can you wait for the market to develop? ONLY if you can do so without additional funding.
Can you pivot? ONLY if you can do so without additional funding.
Therefore, the strategy vis-a-vis many of these higher order challenges is to bootstrap if you can.
If you can extend the runway by operating lean, perhaps you CAN solve some of these problems.
But in general, they’re much harder to fix.
In our work with 1Mby1M, we have legitimized Bootstrapped Entrepreneurship, raising its profile and importance in the startup world. Nonetheless, many startups have sought financing and many VCs have funded them. As of December 2023, 54,000 venture-funded startups exist in the United States alone. Globally, the number is likely to be higher.
The vast majority of these funded ventures are not gaining velocity.
领英推荐
In this series, we are discussing the nuances of the velocity question.
If your startup is facing Positioning challenges and you need help, please reach out to me through one of the following channels.
(2) In-Person Rendezvous in Silicon Valley
(4) Send an email explaining your situation to request private consulting
You can read the entire series, The Startup Velocity Question, here.
Photo by Conor Samuel on Unsplash